ArriVent BioPharma’s (AVBP) Buy Rating Reaffirmed at BTIG Research

ArriVent BioPharma (NASDAQ:AVBP)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $29.00 price target on the stock. BTIG Research‘s target price would indicate a potential upside of 53.85% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Guggenheim reduced their price target on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen lowered shares of ArriVent BioPharma from a “sell” rating to a “strong sell” rating in a report on Saturday, October 10th. Truist Financial dropped their price objective on shares of ArriVent BioPharma from $45.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. HC Wainwright dropped their price objective on shares of ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Finally, Jefferies Financial Group set a $18.00 price objective on shares of ArriVent BioPharma in a report on Tuesday, October 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ArriVent BioPharma currently has an average rating of “Moderate Buy” and an average target price of $25.67.

ArriVent BioPharma Price Performance

Shares of AVBP traded up $0.91 during mid-day trading on Friday, reaching $18.85. The company had a trading volume of 817,835 shares, compared to its average volume of 680,566. ArriVent BioPharma has a twelve month low of $11.36 and a twelve month high of $35.83. The company’s 50-day moving average is $27.07 and its 200-day moving average is $29.09. The company has a market capitalization of $929.49 million, a P/E ratio of -5.21 and a beta of 1.34.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, equities analysts expect that ArriVent BioPharma will post -4.05 EPS for the current fiscal year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of large investors have recently bought and sold shares of the business. Montanova Capital LLC grew its position in ArriVent BioPharma by 2.6% during the 2nd quarter. Montanova Capital LLC now owns 4,515,531 shares of the company’s stock worth $156,870,000 after acquiring an additional 114,448 shares during the last quarter. Hhlr Advisors LTD. bought a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $136,498,000. BlackRock Inc. bought a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $112,919,000. General Catalyst Group Management LLC bought a new stake in ArriVent BioPharma during the 2nd quarter worth approximately $51,929,000. Finally, Vivo Capital LLC bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $20,438,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing precision medicines for patients with genetically defined cancers. The company seeks to identify promising therapies developed in other regions and advance them through clinical development and regulatory approval in the United States and other markets.

ArriVent’s lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor designed to target specific EGFR mutations in non-small cell lung cancer, including EGFR exon 20 insertion mutations.